Tashkent, Uzbekistan (UzDaily.com) — President of Uzbekistan Shavkat Mirziyoyev has signed a law introducing amendments to several legislative acts aimed at supporting the development of the jewelry industry.

According to the amendments to the Tax Code, from 1 September 2024 to 1 September 2027, tax benefits currently granted to members of the “Hunarmand” association will also be extended to individual entrepreneurs who are members of the “Uzbekzargarsanoati” Association and engaged in the production of jewelry.

In addition, enterprises that are members of the Association and involved in jewelry manufacturing will be exempt from property tax and land tax on real estate and land plots used in production.

The law also introduces amendments to the Law “On Precious Metals and Precious Stones.” Refining enterprises are granted new rights without the need to obtain additional permits:

to sell precious metals to jewelry manufacturers in convenient forms and quantities;

to produce and sell souvenir coins made from precious metals.

Jewelry manufacturers are also permitted to sell semi-finished jewelry products to other jewelry producers. The selling price is set independently by the manufacturers but must not be lower than the morning fixing price of the London Bullion Market and the Central Bank's exchange rate on the day of the transaction.